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Tax Comparison of Dividends vs Interest
in 2014

The tables on this page compare taxes payable by province/territory in
2014 for three
different types of investment income - Canadian dividends eligible for the enhanced dividend tax
credit, non-eligible Canadian dividends, and
other investment income such as foreign dividends and interest. The
calculations assume that the income is earned by a single person, and that there
is no other type of income included in taxable income. The tax
rates used are as known on August 18, 2014. The total taxes payable include
any alternative minimum tax, where applicable.

Dividends eligible for the enhanced dividend
tax credit

Actual
Eligible
Dividends

Taxable
Income

Total Federal +
Provincial Income Taxes Payable (Refundable) in 2014

AB

BC

MB

NB

NL

NS

NT

NU

ON

PE

QC

SK

YT

$30,000

$41,400

$0

$864

$376

$0

$0

$0

$(680)

$(828)

$450

$0

$910

$0

$0

50,000

69,000

69

933

1,849

69

735

1,879

(873)

(1,131)

669

457

2,693

69

69

60,000

82,800

1,433

2,293

4,555

1,499

2,851

4,389

521

263

2,179

2,744

4,963

1,478

1,460

80,000

110,400

4,494

5,352

10,236

5,315

7,348

9,791

3,599

3,758

5,238

7,555

11,166

4,565

4,536

100,000

138,000

7,465

8,324

15,789

9,649

11,714

15,131

6,562

7,729

9,803

12,219

17,963

8,012

7,500

Non-eligible dividends

Note: Non-eligible dividends gross-up % is 18% in
2014, and was 25% in previous years.

Actual
Non-eligible
Dividends

Taxable
Income

Total Federal +
Provincial Income Taxes Payable in 2014

AB

BC

MB

NB

NL

NS

NT

NU

ON

PE

QC

SK

YT

$15,000

$17,700

$0

$(21)

$709

$0

$0

$0

$(383)

$(354)

$0

$298

$173

$0

$0

30,000

35,400

664

1,239

2,629

608

510

645

(605)

(708)

300

1,717

1,579

999

281

50,000

59,000

4,025

4,120

7,174

4,413

4,119

4,520

861

1,122

2,943

5,951

6,134

4,839

3,121

60,000

70,800

6,135

6,018

10,054

6,832

6,371

7,087

2,087

2,864

4,790

8,696

8,844

7,268

5,084

80,000

94,400

10,615

10,757

16,816

12,199

11,287

12,498

6,043

6,860

10,111

14,734

14,938

12,385

9,384

100,000

118,000

15,780

16,900

24,263

18,383

16,889

18,778

11,043

11,800

16,694

21,456

22,390

18,187

14,669

Other income (foreign dividends, interest, etc.)

Interest
Income

Taxable
Income

Total Federal +
Provincial Income Taxes Payable in 2014

AB

BC

MB

NB

NL

NS

NT

NU

ON

PE

QC

SK

YT

$15,000

$15,000

$579

$504

$1,091

$579

$579

$852

$308

$377

$672

$1,044

$492

$579

$634

30,000

30,000

4,051

4,431

5,083

4,629

4,479

4,746

3,256

2,927

4,156

5,014

5,495

4,438

4,157

50,000

50,000

9,474

9,475

11,037

10,726

10,198

11,159

7,890

6,992

9,294

11,117

12,268

10,195

9,148

60,000

60,000

12,674

12,445

14,512

14,408

13,648

14,869

10,850

9,692

12,409

14,697

16,205

13,695

12,316

80,000

80,000

19,074

18,519

22,066

21,796

20,640

22,603

16,923

15,492

18,960

22,322

24,079

20,695

18,652

100,000

100,000

25,958

25,746

30,430

29,983

28,183

30,878

24,247

2,2100

27,190

30,577

33,037

28,179

25,782

Notes re all three tables:
- BC includes MSP premiums payable for 2015 based
on 2014 income.
- NL dividends are assumed to be received evenly
throughout the year, so the taxes are lower than they will be in 2015.
- Ontario
- includes Ontario Health Premium.
- QC includes progressive health contribution, contribution to the
health services fund, and prescription drug insurance plan premiums.
- QC taxes are net of tax credit for person living
alone.

To see the tax results for your own income situation, and how it would change if
the type of investment income changes, use our Income
Tax Planning Calculators.